Marco Investment Management LLC Sells 3,415 Shares of Apple Inc. (NASDAQ:AAPL)

Marco Investment Management LLC cut its position in Apple Inc. (NASDAQ:AAPLFree Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 276,908 shares of the iPhone maker’s stock after selling 3,415 shares during the quarter. Apple makes up about 5.5% of Marco Investment Management LLC’s holdings, making the stock its biggest position. Marco Investment Management LLC’s holdings in Apple were worth $53,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Headinvest LLC grew its stake in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after buying an additional 872 shares during the last quarter. Sound Income Strategies LLC grew its stake in Apple by 16.1% in the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after buying an additional 10,425 shares during the last quarter. DNB Asset Management AS grew its position in Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after purchasing an additional 279,311 shares during the last quarter. Boltwood Capital Management grew its position in Apple by 2.8% in the 4th quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after purchasing an additional 1,021 shares during the last quarter. Finally, NewEdge Wealth LLC grew its position in Apple by 16.2% in the 4th quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock worth $155,701,000 after purchasing an additional 112,980 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on AAPL shares. Sanford C. Bernstein upgraded shares of Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research report on Monday, April 29th. Piper Sandler decreased their price target on shares of Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Canaccord Genuity Group raised their price target on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Saturday, May 4th. DZ Bank restated a “hold” rating and issued a $180.00 price target on shares of Apple in a research report on Thursday, March 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $200.00 price target on shares of Apple in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.59.

Check Out Our Latest Stock Report on AAPL

Apple Trading Up 0.5 %

Shares of NASDAQ AAPL opened at $192.25 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $199.62. The company has a market cap of $2.95 trillion, a PE ratio of 29.90, a P/E/G ratio of 2.32 and a beta of 1.26. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $177.53 and a two-hundred day moving average of $183.28.

Apple (NASDAQ:AAPLGet Free Report) last announced its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a net margin of 26.31% and a return on equity of 148.33%. The company had revenue of $90.75 billion during the quarter, compared to the consensus estimate of $90.37 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This is an increase from Apple’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.52%. Apple’s payout ratio is currently 15.55%.

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Chris Kondo sold 4,999 shares of Apple stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.40, for a total transaction of $951,809.60. Following the completion of the sale, the insider now owns 29,278 shares in the company, valued at approximately $5,574,531.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 54,732 shares of Apple stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the sale, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 271,270 shares of company stock worth $46,511,696 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Company Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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